Wedbush Securities Inc. Takes Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Wedbush Securities Inc. bought a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,739 shares of the company’s stock, valued at approximately $336,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Sirius XM during the 4th quarter worth $28,269,000. Check Capital Management Inc. CA boosted its position in shares of Sirius XM by 597.7% during the 4th quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company’s stock worth $26,123,000 after purchasing an additional 981,517 shares in the last quarter. Capital Management Corp VA purchased a new stake in shares of Sirius XM during the 4th quarter worth $11,339,000. FMR LLC boosted its position in shares of Sirius XM by 472.6% during the 3rd quarter. FMR LLC now owns 497,514 shares of the company’s stock worth $11,766,000 after purchasing an additional 410,621 shares in the last quarter. Finally, Seizert Capital Partners LLC boosted its position in shares of Sirius XM by 16.3% during the 4th quarter. Seizert Capital Partners LLC now owns 2,269,616 shares of the company’s stock worth $51,747,000 after purchasing an additional 317,289 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley decreased their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Barrington Research set a $28.00 price objective on shares of Sirius XM in a research note on Friday, January 31st. Rosenblatt Securities lowered their price objective on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Guggenheim lowered their price objective on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.81.

Sirius XM Price Performance

Sirius XM stock opened at $20.90 on Thursday. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $41.60. The stock has a market capitalization of $7.08 billion, a P/E ratio of -3.26, a P/E/G ratio of 0.79 and a beta of 0.98. The firm’s 50-day moving average is $23.67 and its two-hundred day moving average is $24.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. Equities analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.08 annualized dividend and a yield of 5.17%. Sirius XM’s payout ratio is -16.85%.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.